Large Withdrawals by Crypto Whales Responsible for US Banking Crisis: Federal Reserve Bank of Chicago

Large Withdrawals by Crypto Whales Responsible for US Banking Crisis: Federal Reserve Bank of Chicago

ByNews Polite

The back-to-back downfalls of promising crypto projects last year has been blamed for causing the ongoing banking crisis in the US by the Federal Reserve Bank of Chicago (FRBC). In a fresh analysis, the FRBC has said large withdrawals by institutional crypto investors stirred a liquidity crisis so severe that…

Bankrupt Crypto Lender Celsius Sets Bar Date on January 3rd 2023 After Court Approval

Bankrupt Crypto Lender Celsius Sets Bar Date on January 3rd 2023 After Court Approval

ByNews Polite

Defunct cryptocurrency lending company Celsius Network has announced that the bankruptcy court has granted its motion to “set the bar date” for customers to file a claim. Per the announcement, customers now have until January 3, 2023, to file their proof of claims. Celsius further said a notice on the…

Celsius CEO and Other Execs Cashed Out Up to Million Before Filing for Bankruptcy

Celsius CEO and Other Execs Cashed Out Up to $23 Million Before Filing for Bankruptcy

ByNews Polite

Two former executives at crypto lending firm Celsius withdrew up to $23 million (roughly Rs. 190 crore) worth of cryptocurrency between May and June of this year, before the company froze customer withdrawals and filed for bankruptcy. The information was detailed in a Statement of Financial Affairs filed late Wednesday…

Bankrupt Celsius Likely to Reopen Withdrawals for Custody Account Holders, Files for Legal Permission

Celsius Users Under Phishing Risks as Already Troubled Firm Now Faces Data Breach Scandal

ByNews Polite

Celsius Network has disclosed to its community that it has suffered a data breach, warning users against threats of phishing attacks. An unnamed employee of Celsius’ third-party social media handler Customer.io accessed a list of Celsius client email addresses and transferred those to a third-party. Customer.io handles the market communications…